§ 650e - Penalty - Vermont Statutes

§ 650e. Penalty

(a) Imposition. Except as provided in subsection (b) of this section, the agency shall impose a penalty upon a recipient for violation of the contract required by section 650d of this title (relating to approval).

(b) Exception. The agency may waive the penalty required by subsection (a) of this section if the corporation determines that the failure was due to circumstances outside the control of the recipient.

(c) Amount. The amount of the penalty shall be equal to the full amount of the grant received plus an additional amount of up to 10 percent of the amount of the grant received. The penalty shall be payable in one lump sum or in installments, with or without interest, as the agency deems appropriate. (Added 2005, No. 184 (Adj. Sess.), § 17e.)